Priming the Pump: Michael Costa’s Big Transaction to Create New LIHTC Deals for Years to Come

By Caitlin Jones
May 17, 2011 1 min read

Tax Credit Advisor, May 2011: You can’t accuse Michael Costa of thinking small. The housing veteran is sifting through a $3.4 billion portfolio of 276 low-income housing tax credit projects in 33 states and Puerto Rico to create a stream of new tax credit development deals – for years to come.

The third-generation Californian is rounding up consents from investors and lenders associated with the properties in the portfolio, which is under contract to be purchased from Citibank.

Costa, president and CEO of MacFarlane Costa Housing Partners (MCA), Gardena, Calif., is also president, CEO, and managing member of two other new companies – Highridge Costa Investors, LLC (HCI) and Highridge Costa Housing Partners, LLC (HCP). Costa expects HCI to close its purchase of the portfolio from Citibank within the next few months.

Leveraging NMTC and GGRF

A Synergistic Approach to Community Development

Jennifer Kirkley & Regan St. Pierre • September 13, 2024 6 min read

Increasingly, climate solutions are central to preserving and creating wealth and well-being in communities across the country.

What Can Be Done About Insurance?

NH&RA Panelists Explore Ways to Rein in High Insurance Costs for Affordable Housing

Pamela Martineau • September 1, 2024 6 min read

Meet with your underwriter in person, provide as much data as possible on relevant inspections and offer photos of improvements you’ve made to affordable housing properties. These were just a few of the tips offered at the National Housing & Rehabilitation Association’s Summer Institute Panel: “What Can Be Done About Insurance?”

Rainbow Housing: Transforming Resident Services from Within

Abram Mamet • September 1, 2024 9 min read

For most organizations, radical shifts in market strategy and company makeup generally come after crises. For Rainbow Housing Assistance Corporation (Rainbow), that radical shift came not as a result of significant challenges, but as a way to leverage successful internal practices to better serve the affordable housing industry.